Egypt, Greece and Cyprus Back Cypriot Gas Project Amid European Energy Crunch

Leaders from Egypt, Greece, and Cyprus have reaffirmed their support for a project to send Cypriot gas to Europe through Egyptian export facilities. The plan aims to reduce reliance on Gulf liquefied natural gas (LNG) supplies disrupted by the ongoing Iran war and the Strait of Hormuz blockade.

Cronos, Cyprus' first gas development, is expected to start producing gas in 2028, with a planned capacity to supply around 2.8 million tonnes of LNG per year. The field contains more than 3 trillion cubic feet of additional gas.

Eni and TotalEnergies will market half of the output each, with Eni selling gas primarily in Europe and other international markets. Greece's Prime Minister Kyriakos Mitsotakis outlined a possible route for Cypriot gas through Greek terminals to southeastern and central Europe.